25 Companies Raise Prices Three Times Within a Month: China’s Titanium Dioxide Industry Shifts from “Price Wars” to a “Pricing Alliance”

In March 2026, China’s titanium dioxide market experienced a historic wave of price increases. Within just one month, at least 25 titanium dioxide producers issued three consecutive price adjustment notices, forming what resembles a coordinated “pricing alliance.”

This round of price hikes is significant both in scale and frequency, marking a shift away from the industry’s previous “price war” competition model toward a unified upward pricing trend driven by rising costs.

Sharp Increase in Raw Material Costs

Geopolitical tensions in the Middle East have disrupted the global sulfur supply chain, directly driving up the prices of key raw materials such as sulfur and sulfuric acid used in titanium dioxide production.

Since the beginning of 2026, domestic sulfuric acid prices in China have risen cumulatively by RMB 300–600 per ton. Prices for sulfur-based acid and ore-based acid have seen even larger increases, with some regions experiencing rises exceeding RMB 700 per ton.

These cost increases have rapidly passed downstream, sharply raising production costs for titanium dioxide. According to industry estimates, sulfuric acid alone has added approximately RMB 1,500–2,000 per ton to production costs. Combined with surging sulfur prices, the total cost increase now exceeds RMB 2,000 per ton.

Sustained Growth in Export Demand

Although domestic downstream demand remains relatively weak, titanium dioxide exports have shown strong momentum. In the first two months of 2026, exports increased by more than 20% year-on-year.

The recovery of overseas demand and tightening global supply have led to a surge in export orders for Chinese producers. Inventory levels have remained low, providing strong demand-side support for price increases.

Coordinated Industry Action Drives Unified Price Increases

Industry leader LB Group Co., Ltd. issued three separate price adjustment notices on March 2, March 16, and March 24, with cumulative price increases of approximately RMB 2,000 per ton. Other companies—including Guangdong Huiyun Titanium Industry Co., Ltd., Taiyang Chemicals Co., Ltd., Shengwei Fuquan Chemical Co., Ltd., Zhengtai New Materials Co., Ltd., as well as around 24 additional producers, closely followed suit.

Within a single month, domestic titanium dioxide prices rose by approximately RMB 1,700–2,000 per ton, while international prices increased by about USD 300–350 per ton, demonstrating a high degree of alignment across the industry.

Market Structure Shifts from “Price Wars” to Coordinated Pricing

In recent years, the titanium dioxide industry has been characterized by intense price competition, particularly during periods of weak demand, when companies often lowered prices to gain market share.

However, with persistently high raw material costs, evolving supply-demand dynamics, and stronger export demand, such price competition has become increasingly unsustainable.

In this latest round of adjustments, the synchronized actions of 25 companies suggest more than a passive response to cost pressures—it reflects the emergence of a form of internal “pricing discipline” within the industry.

The pricing logic is shifting from aggressive competition toward collective stabilization, signaling a transition from fragmented rivalry to coordinated price support.